MNI BRIEF: ECB Felt Premature Discussing Landing Zone-Accounts

MNI China Daily Summary: Thursday, February 27

MNI BRIEF: China Warns On Higher Shipping Cost Risk - MOFCOM

MNI: PBOC Net injects CNY90 Bln via OMO Thursday

MNI China Press Digest Feb 27: Yuan, Housing, Economy

MNI: PBOC Sets Yuan Parity Higher At 7.1740 Thurs; -0.77% Y/Y

MNI: US Q4 GDP +2.3%

MNI: US JOBLESS CLAIMS +22K TO 242K IN FEB 22 WK

MNI:US JAN DURABLE NEW ORDERS +3.1%; EX-TRANSPORTATION +0.0%

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - EURUSD Pullback Considered Corrective

OUTLOOK
  • In FX, the current bullish condition in EURUSD remains intact and this week’s pullback is considered corrective. Last week’s rally resulted in a break of key short-term resistance at 1.0694, the Oct 24 high. This strengthens a bullish case and signals scope for a stronger short-term correction. Attention is on 1.0764, 38.2% of the Jul 18 - Oct 3 bear leg. Firm support is at 1.0517, the Nov 1 low, a break would be bearish. Initial support is 1.0657, the 50-day EMA.
  • Recent gains in GBPUSD resulted in a break of resistance at 1.2289, the Oct 24 high as well as key resistance at 1.2337, the Oct 11 high. These gains strengthen the bullish case and signal scope for a stronger short-term bull cycle. Sights are on the 200-dma at 1.2435 and 1.2459, 38.2% of the Jul 13 - Oct 4 bear leg. On the downside, support to watch lies at 1.2225, the 20-day EMA. This week’s pullback appears to be a correction.
  • The trend needle in USDJPY continues to point north. Support at the 50-day EMA - at 148.54 - remains intact and a break of this average is required to signal a short-term top. Last week’s gains resulted in a breach of 150.78, the Oct 26 high. This confirmed a resumption of the uptrend and has opened 152.20, the 3.00 projection of the Jul 14 - 21 - 28 price swing. Moving average studies are in a bull-mode position, reflecting the market's positive sentiment.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.